The global trimmer acid market is anticipated to expand at a 3.9% CAGR over the forecast period between 2021 and 2031, finds Future Market Insights (FMI). Increasing demand of adhesives & sealants and synthetic lubricants is driving the market of trimer acid.
Growing utilization of trimer acid in polymers and other chemical products is further expected to boost the consumption of trimer acid market. Hence, demand for trimer acid in construction industry is expected to drive sales in the coming decade.
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The construction chemicals market has been experiencing significant growth, which in turn, is impacting the trimer acid market positively over the forecast period. Increasing government investments for infrastructural developments and construction spending across the globe is increasing the use of trimer acid.
Application of trimer acid in the manufacturing of paints & protective coatings in building and construction sector are anticipated to be major growth drivers. Additionally, surging trend of bio-based adhesives and lubricants is expected to further boost the sales of trimer acid.
However, environmental regulations pertaining to the use of chemically treated products and the concerns regarding rising prices of raw material is expected to be key factor hampering the growth of trimer acid market worldwide.
Key Takeaways:
- In terms of application, coating segment in the global trimer acid market is dominating the market.
- Rising demand for high performance adhesives is expected to provide growth to the adhesives & sealants segment, registering considerable growth between 2021 and 2031.
- China and the U.S. is expected to be one of the key consumer in global trimer acid market owing to high presence of industries and raw materials suppliers in the country.
- Russia is expected to dominate the Europe timer acid market throughout the assessment period on the back of increasing application in construction industry
Competitive Landscape
Key market participants in the global trimer acid market profiled in the report includes Wilmar International, Florachem, Oleon NV, Croda International Plc, Kraton Corporation, TCI Chemicals, Triveni Chemicals and many others.
Key players operating in the global trimer acid market are focusing on increasing their production capacities to boost their market footprint especially in the emerging economies. Furthermore, market participants are focusing on mergers, acquisitions and collaborations strategies to expand their global presence and strengthen their distribution network.
More Insights into the Trimer Acid Market Report
In its latest report, FMI offers an unbiased analysis of the Global Trimer Acid market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of sources (canola based and tall oil fatty acid.), function (rheology modifier, polymer building block, viscosity modifier, corrosion inhibitor, asphalt binder) and application (coating, adhesive & sealants, elastomers, synthetic lubricants, others) across seven regions (North America, Latin America, Europe, East Asia, South Asia& Pacific and Middle East & Africa).
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Trimer Acid Market By Category
By Source:
- Canola based
- Tall Oil Fatty Acid ( TOFA)
By Function:
- Rheology Modifier
- Polymer Building Block
- Viscosity Modifier
- Corrosion Inhibitor
- Asphalt Binder
By Application:
- Coating
- Adhesive & Sealants
- Elastomers
- Synthetic Lubricants
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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